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Flitterby
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Posted - 2010.06.24 15:17:00 -
[1]
So I'm sitting in Jita and I want to buy 10 doodads with buy orders sitting at 100m each and sells at 115m. I hate 0.01-isking so I drop in some buy orders at 101m. A few hours later I've bought a few units and the buy orders are all 101m+0.01. I go up to 102m and buy a few more. Etc.
By the time I've got my 10 doodads (average cost 105m) there are buy orders up around 112m. So instead of keeping my doodads I sell them back and make 70m profit minus ~15m transaction fees.
Sigh. I just want doodads, but I can't resist taking a profit when it's so easy.
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Darthion Illys
Amarr
Tyrans d'Or
Umbrella Chemical Inc
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Posted - 2010.06.24 15:25:00 -
[2]
You're a market genius.
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Scout Ops
Red Federation
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Posted - 2010.06.24 15:28:00 -
[3]
Lemmings intelligence.
Nothing new.
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Valemora
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Posted - 2010.06.24 15:33:00 -
[4]
Lies, you are not sitting in jita, servers are down.
and yea, its that easy.
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aruchra
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Posted - 2010.06.24 16:06:00 -
[5]
Hey darthion thanks for ur fish yesterday :)
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Flitterby
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Posted - 2010.06.24 17:29:00 -
[6]
Never claimed to be any sort of genius. I'm just constantly surprised by how easy it is to make money in this game.
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Onyth
Had Investments
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Posted - 2010.06.24 18:04:00 -
[7]
Edited by: Onyth on 24/06/2010 18:04:59
 Originally by: Flitterby
Never claimed to be any sort of genius. I'm just constantly surprised by how easy it is to make money in this game.
It never stops suprising me how stupid some people are (not you), but if someone does a 'big' overcut, its sometimes much more intersting to let it go and wait for the order to fill, definatly small orders. But I've seen (too many times) that a buyer has a buy order of one (1) item in a high volume market at a rather big overprice, and not too much after that lemmings with big orders follow that person, rather than wait 5min, and get the whole batch at a much more favorable price.
But yeah.... sometimes they **** u off, other times they get u isk, just have to know how to deal with the lemmings & u'll make good isk in any game :p
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Cista2
Hydra Investment Fund
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Posted - 2010.06.24 19:38:00 -
[8]
Cool story.
Actually, this occurrence doesn't mean that the buyers are "stupid" as someone said. A lot of things are going on, people have different buy criteria etc.
Also, to become a market manipulator you need two more steps from this  you're only half way.
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Join "Signatures" channel - the chatroom for traders |
SamGromoff
Amarr
Viziam
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Posted - 2010.06.24 20:22:00 -
[9]
Edited by: SamGromoff on 24/06/2010 20:24:37
I will pay you another 70m for the name of the person you sold those to. PM me.
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Flitterby
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Posted - 2010.06.24 21:35:00 -
[10]
Edited by: Flitterby on 24/06/2010 21:36:23
Originally by: Cista2
Also, to become a market manipulator you need two more steps from this you're only half way.
Well, I'm not really trying to "become a market manipulator", but I m curious what your next two steps are.
What's interesting to me is that in Eve (like in real life) the more money you have the more money you can make (even percentage-wise). More expensive items have lower volume (even in Jita) and thus greater opportunity for quirky behavior.
I'm going to try with a few other ~100m items. The formula seems pretty simple.
1. Find appropriate item. It should a) be relatively expensive, b) have several active buy orders for multiple units, c) have a buy/sell spread of at least 10%.
2. Place multiple unit buy order for 1% above highest buy price.
3. Every few hours (?) increase your order by 1%. Keep doing this until the buy/sell spread is whittled down OR your stock matches the volume of the buy orders that are stalking you.
4. Sell all the units you just bought to the orders that have been stalking yours.
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Rodyth
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Posted - 2010.06.24 23:06:00 -
[11]
Originally by: Cista2
Actually, this occurrence doesn't mean that the buyers are "stupid" as someone said. A lot of things are going on, people have different buy criteria etc.
I wasn't referring to those that have a reason to follow, there are howver plenty of well lets face it, semi-brain dead people that will follow at any price, the lemming herd that would even buy them if they wouldn't make a profit anymore after taxes (you could argue that they'd keep em, but be asured, the majority WILL relist the items :p)
But yeah, as you said there are those with actual reasons other than being a lemming. |
Rasz Lin
Caldari
Maniacal Necro Terrorists
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Posted - 2010.06.25 00:40:00 -
[12]
You just described what i was doing with 1600RT just after they bottomed out at 2.9 in Jita. |
hgedsku
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Posted - 2010.06.25 01:52:00 -
[13]
I never understood people like you. You know getting undercut/over-cut is inevitable yet you significantly mark up/down the price of the item... for what? It like "ohh this item is buying for 6mill and selling for 10mill. let me buy it for 8 mill." unless your deliberately doing it to make MORE profits some how its completely pointless" |
Bryg Philomena
Don't Taze Me Bro
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Posted - 2010.06.25 02:04:00 -
[14]
Originally by: hgedsku
I never understood people like you. You know getting undercut/over-cut is inevitable yet you significantly mark up/down the price of the item... for what? It like "ohh this item is buying for 6mill and selling for 10mill. let me buy it for 8 mill." unless your deliberately doing it to make MORE profits some how its completely pointless"
It should depend on volume, if I can cut out several other .01 isk marketeers by increasing the price of an item temporarily, it can save me time on the purchase. And in everything, my time is much more important that 1% difference of price. |
Aurum Bellator
Caldari
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Posted - 2010.06.25 09:23:00 -
[15]
Originally by: Flitterby
Well, I'm not really trying to "become a market manipulator", but I m curious what your next two steps are.
What's interesting to me is that in Eve (like in real life) the more money you have the more money you can make (even percentage-wise). More expensive items have lower volume (even in Jita) and thus greater opportunity for quirky behavior.
I'm going to try with a few other ~100m items. The formula seems pretty simple.
1. Find appropriate item. It should a) be relatively expensive, b) have several active buy orders for multiple units, c) have a buy/sell spread of at least 10%.
2. Place multiple unit buy order for 1% above highest buy price.
3. Every few hours (?) increase your order by 1%. Keep doing this until the buy/sell spread is whittled down OR your stock matches the volume of the buy orders that are stalking you.
4. Sell all the units you just bought to the orders that have been stalking yours.
What do you do with all the extra inventory you've accumulated as your buy price has increased? Or are you trading in something that has little to no trade volume? In which case you have other problems with your scheme . . . . . not quite that easy I'm afraid :)
AUB
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PinkFish
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Posted - 2010.06.25 17:44:00 -
[16]
Originally by: Bryg Philomena
Originally by: hgedsku
I never understood people like you. You know getting undercut/over-cut is inevitable yet you significantly mark up/down the price of the item... for what? It like "ohh this item is buying for 6mill and selling for 10mill. let me buy it for 8 mill." unless your deliberately doing it to make MORE profits some how its completely pointless"
It should depend on volume, if I can cut out several other .01 isk marketeers by increasing the price of an item temporarily, it can save me time on the purchase. And in everything, my time is much more important that 1% difference of price.
Congratulations, you are somewhere around the 20,000th pod pilot to have this very same epiphany. Hub traders (.01ers) intrinsically understand that if they allowed those tiny little orders to sit above them, then there would be a continuous supply of small time traders gobbling up all of the volume one over-cut at a time.
The only counter to this incredibly common phenomena of drastic bid increases is to simply plop your mega order right above them until they realize they have the same time investment as a real trader. This not only gets them to leave you alone, but one in every 100 or so comes to the forums to cry.
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Flitterby
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Posted - 2010.06.25 18:20:00 -
[17]
Originally by: Aurum Bellator
Originally by: Flitterby
3. Every few hours (?) increase your order by 1%. Keep doing this until the buy/sell spread is whittled down OR your stock matches the volume of the buy orders that are stalking you.
What do you do with all the extra inventory you've accumulated as your buy price has increased? Or are you trading in something that has little to no trade volume? In which case you have other problems with your scheme . . . . . not quite that easy I'm afraid :)
AUB
I helpfully bolded the part that answered your question before you asked it.
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Aurum Bellator
Caldari
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Posted - 2010.06.25 19:41:00 -
[18]
Originally by: PinkFish
Congratulations, you are somewhere around the 20,000th pod pilot to have this very same epiphany. Hub traders (.01ers) intrinsically understand that if they allowed those tiny little orders to sit above them, then there would be a continuous supply of small time traders gobbling up all of the volume one over-cut at a time.
The only counter to this incredibly common phenomena of drastic bid increases is to simply plop your mega order right above them until they realize they have the same time investment as a real trader. This not only gets them to leave you alone, but one in every 100 or so comes to the forums to cry.
This happens most commonly in outlying mission hubs. That mission runner who wants to get the 'good' high sell price for his arbalest heavy drop puts up a single item just under your larger order. If you let him sell like this, not only do you lose that sale but you also lose a lowball purchase as he would most likely otherwise sell to your buy order.
PinkFish said it perfectly . . . the small fry need to know they can't compete unless they dedicate the same time and effort managing their orders as you do. Just all part of 'disciplining' your local community 
AUB
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Aurum Bellator
Caldari
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Posted - 2010.06.25 19:52:00 -
[19]
Originally by: Flitterby
Originally by: Aurum Bellator
Originally by: Flitterby
3. Every few hours (?) increase your order by 1%. Keep doing this until the buy/sell spread is whittled down OR your stock matches the volume of the buy orders that are stalking you.
I helpfully bolded the part that answered your question before you asked it.
Missed that, sorry 
AUB
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Deckington Forgecaster
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Posted - 2010.06.26 00:42:00 -
[20]
I've looked for hours now and I still cant find any doodad's on the market!!
I guess they must be contract only items
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Cheque Please
Hot Like Mexico
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Posted - 2010.06.26 04:07:00 -
[21]
Edited by: Cheque Please on 26/06/2010 04:14:47
Originally by: Aurum Bellator
PinkFish said it perfectly . . . the small fry need to know they can't compete unless they dedicate the same time and effort managing their orders as you do. Just all part of 'disciplining' your local community
Lol...
I suppose your vision of the future would be a boot stamping on a mission runner face - forever?
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Real-Life Meeting with Chribba |
Bryg Philomena
Don't Taze Me Bro
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Posted - 2010.06.26 04:24:00 -
[22]
Originally by: PinkFish
Originally by: Bryg Philomena
Originally by: hgedsku
I never understood people like you. You know getting undercut/over-cut is inevitable yet you significantly mark up/down the price of the item... for what? It like "ohh this item is buying for 6mill and selling for 10mill. let me buy it for 8 mill." unless your deliberately doing it to make MORE profits some how its completely pointless"
It should depend on volume, if I can cut out several other .01 isk marketeers by increasing the price of an item temporarily, it can save me time on the purchase. And in everything, my time is much more important that 1% difference of price.
Congratulations, you are somewhere around the 20,000th pod pilot to have this very same epiphany. Hub traders (.01ers) intrinsically understand that if they allowed those tiny little orders to sit above them, then there would be a continuous supply of small time traders gobbling up all of the volume one over-cut at a time.
The only counter to this incredibly common phenomena of drastic bid increases is to simply plop your mega order right above them until they realize they have the same time investment as a real trader. This not only gets them to leave you alone, but one in every 100 or so comes to the forums to cry.
That would be my motivation, but honestly I never do. I either buy off sell orders for quick purchases, or .01 isk it. Not that I give a damn either way.
Originally by: CCP Wrangler
Am I reading this correctly? You claim you have a bug that undresses female avatars???
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